Chase Freedom cardholders, particularly those with large gas station bills, will likely be quite pleased with 2012′s Chase Freedom 5% cash back reward categories. While there are a handful of differences between the 2012 schedule and that of last year, 5% cash back categories are probably easier for many to max out this year.

First Quarter: Beginning January 1st and running until March 31st, cardmembers earn 5% at gas stations and on purchases made at Amazon.com. Because 5% cash back can be earned on up to $1,500 of spending, an individual or family that spends $125 a week on gas can max out rewards during this quarter.

Second Quarter:  From April until June 30th, cardmembers earn 5% cash back at grocery stores and movie theaters. This is generally the easiest quarter to max out, as most families can easily spend the $125 a week on groceries (though a couple would need to see about 50 movies during this period to max out earnings on movie theater purchases). Continue Reading »

Chase’s Southwest Airlines Rapid Rewards Plus credit card has undergone a number of makeovers during the past year. The latest rendition of the Southwest credit card provides applicants with a very respectable 25,000 Rapid Rewards point sign up bonus worth slightly more than $400 in Wanna Get Away Fares as well as all the standard reward features consumers have come to expect from airline credit cards.

Southwest Credit Card Benefit Overview

Approved applicants who make a single purchase obtain the aforementioned 25,000 Rapid Rewards point bonus. The points have a value of 1.7 cents each when used for Wanna Get Away fares and can thus be used to purchase a round-trip flight comprised of two one way $200 tickets. Given that it is often possible to get Wanna Get Away fares for as low as $50, these points could theoretically be enough for four flights.

Apart from the sign-up bonus, card-members earn 2 Rapid Rewards points for every dollar spent on Southwest Airlines purchases in addition to rewards earned from flying. Given the value of the points, this equates to a 3.4% discount on Southwest flights. Everyday purchases earn a straight one point per dollar, the equivalent of a 1.7% discount on all purchases. Continue Reading »

Many Americans are obsessed with finding a good deal, especially during the holiday season. The desire to save money manifests itself in all sorts of ways, including the frenzy that surrounds Black Friday and Cyber Monday sales. Not to be left out, major credit card issuers are offering their own holiday specials on reward card redemptions. This year, Chase is offering a variety of discounts to members of it Ultimate Rewards program.

What Chase Is Offering

Chase has several holiday promotions that many of its cardholders can take advantage of.  Throughout the holidays, Chase credit card rewards card-holders can earn up to 10 extra Ultimate Rewards points per dollar spent at featured merchants in the Ultimate Rewards mall. Other promotions occur only on a single day where purchases can receive as many as 20 bonus points per dollar or even more. Continue Reading »

Although consumers are typically more focused on spending money than saving money with balance transfers during this time of year, credit card companies continue to aggressively pursue new consumers with 0% balance transfer offers. This November, Chase unveiled a 0% APR no fee balance transfer version of Chase Slate. This is the first such offer made available by a major bank since February. Meanwhile, Citibank and Discover continue to offer 0% rates on balance transfers and/or purchases lasting up to 21 months.

Consequently, November is a good time for consumers to preemptively take advantage of 0% APR credit cards in the event the market deteriorates following the holiday season. Given the large number of cards offering 0% rates on purchases as well as balance transfers, utilizing this type of credit card now can also help eliminate the need to pay a 3% transfer fee on balances accrued during the holidays on high rate cards if a 0% card is needed down the road.

Average 0% Offer Durations & Fees in November

As a result of the introduction of the Chase Slate no fee balance transfer offer, average balance transfer fees fell to 3.1% this month, down from 3.26% in October. However, because the Slate card offers a relatively short introductory period that lasts either 6 or 12 months, the average length of 0% offers also declined slightly from 12.16 months to 12.08 months.

Continue Reading »

The battle to get to the top of consumer wallets during the holidays is beginning to heat up with the introduction of a new version of the Citi Diamond Preferred card, the Citi Diamond $200. While similar to the Chase Freedom $200 cash back offer in terms of upfront bonuses, this new limited time offer from Citibank differs in many significant ways, most notably in the 0% interest rate department, but also in the spending requirement needed to obtain the Diamond card’s $200 cash back bonus.

The Citi Diamond $200 Bonus Offer

The Citi Diamond Preferred $200 bonus offer provides consumers who make $500 in online purchases within three months of becoming a card member a statement credit for $200.  This differs from similar $200 credit card offers in two key ways. First, while $500 is typical as far as spending requirements go, the online purchase requirement differs from standard offers, which grant bonuses regardless of where money is spent.  The online spending element of this deal is a factor that should be weighed carefully by consumers, particularly those who expect to do the bulk of their holiday shopping off-line. Continue Reading »

Many people truly understand how credit card interest is calculated. When they do learn how their purchases incur interest, it often strikes them as unfair. Chase Blueprint, which is available on a number of their most popular credit cards including Chase Freedom, Chase Sapphire and Chase Slate, aims to help consumers better manage credit card debt by giving them more vision into and control over interest expenses.

How Credit Cards Normally Work

When a customer first charges items to a credit card, interest payments can be avoided by paying the entire balance in full and on time. Technically, interest is being incurred, but it is forgiven when the full balance is paid off during the grace period; the time before the due date.

However, if a customer fails to pay the complete balance, even by one cent, that customer will owe interest on each purchase from the day of the transaction. From then on, interest continues to accrue on all new and existing purchases on the account until they are completely paid off. Only then is the customer eligible to re-establish an interest free grace period on his or her purchases. Continue Reading »

Updated March 9th, 2012: While Slate from Chase is best known for its innovative BluePrint money management tools, consumers searching for balance transfer credit cards will now have a nice financial perk to give Chase Blueprint a try, as the Chase Slate card is now offering a no fee balance transfer promotion with a 0% APR lasting 15 months.

At present, most credit card companies are charging 3% balance transfer fees, so consumers who are wary about paying credit card fees will find that Chase Slate is the only major credit card offering a 0% introductory period on balance transfers and charging no balance transfer fees. Plus, at 15 months, the introductory period on Slate from Chase is only a mere three months shorter than what is available on the longest balance transfer offers.

Savings from the Chase Slate No Fee Balance Transfer Fee Offer

Before the credit crisis, a number of credit card companies offered no fee balance transfers. Companies that did charge balance transfer fees tended to limit the maximum amount to $75 per transaction. After the crisis, balance transfer fees jumped. While most have come down to the 3% range, the old $75 maximum no longer applies. Consequently, consumers seeking 0% balance transfers are typically required to spend about $30 for every $1,000 transferred. While this is often a pittance compared to what can be saved by doing a balance transfer, balance transfer fees do add up. Continue Reading »